Attached files
file | filename |
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EXCEL - IDEA: XBRL DOCUMENT - AARON'S INC | Financial_Report.xls |
EX-15 - EX-15 - AARON'S INC | c15605exv15.htm |
EX-31.2 - EX-31.2 - AARON'S INC | c15605exv31w2.htm |
EX-10.1 - EX-10.1 - AARON'S INC | c15605exv10w1.htm |
EX-10.3 - EX-10.3 - AARON'S INC | c15605exv10w3.htm |
EX-32.1 - EX-32.1 - AARON'S INC | c15605exv32w1.htm |
EX-31.1 - EX-31.1 - AARON'S INC | c15605exv31w1.htm |
EX-32.2 - EX-32.2 - AARON'S INC | c15605exv32w2.htm |
10-Q - FORM 10-Q - AARON'S INC | c15605e10vq.htm |
Exhibit 10.2
March 31, 2011
Aarons, Inc.
1100 Aaron Building
309 East Paces Ferry Road, NE
Atlanta, GA 30305-2377
Attn: Gil Danielson
1100 Aaron Building
309 East Paces Ferry Road, NE
Atlanta, GA 30305-2377
Attn: Gil Danielson
Ladies and Gentlemen:
We refer to that certain Revolving Credit Agreement, dated as of May 23, 2008 (as amended, the
Credit Agreement), among Aarons, Inc., a Georgia corporation (Borrower), the
lenders from time to time parties thereto (the Lenders) and SunTrust Bank as
administrative agent (the Administrative Agent) for the Lenders. Capitalized terms used
herein and not otherwise defined shall have the meanings given to such terms in the Credit
Agreement.
As you have requested, the Administrative Agent and the Lenders party hereto agree to amend
the Credit Agreement by (a) deleting the and at the end of Section 7.4(i), (b) adding and to
the end of Section 7.4(j) and (c) adding the following as Section 7.4(k): (k) Investments in
investment grade corporate bonds and variable rate demand notes having a rating of BBB+ (or the
equivalent) or higher, at the time of acquisition thereof, from S&P or Moodys and in either case
maturing within two years from the date of acquisition thereof in an aggregate amount not to exceed
$125,000,000 at any time.; provided, that the foregoing amendment is conditioned upon receipt by
the Administrative Agent of executed counterparts to this letter agreement (this
Amendment) from the Borrower and the Required Lenders.
To induce the Administrative Agent and the Lenders to execute and deliver this Amendment, by
signing below, the Borrower consents to the terms of this Amendment and represents and warrants
that no Default or Event of Default has occurred and is continuing and the representations and
warranties of the Loan Parties set forth in the Loan Documents are true and correct in all material
respects except to the extent such representations and warranties relate solely to an earlier date.
The amendment set forth above is limited solely to the specific amendment listed above and
shall not be deemed to be an amendment or waiver of any other provision of the Credit Agreement or
other Loan Documents. As modified by this Amendment, the Credit Agreement shall remain in full
force and effect and constitute the legal, valid, binding and enforceable obligations of Borrower.
This Amendment shall be governed by, and construed in accordance with the internal laws (and not
the laws of conflicts) of the State of Georgia and all applicable laws of the United States of
America. The Borrower agrees to pay on demand all costs and expenses (including, without
limitation, reasonable fees and expenses of counsel) incurred by the Administrative Agent in
connection with this Amendment and the transactions contemplated hereby. This Amendment shall
constitute a Loan Document. This Amendment constitutes the entire understanding of the parties
hereto and supersedes any other prior or contemporaneous negotiations or agreements with respect to
the subject matter hereof. This Amendment may be executed in any number of separate counterparts,
each of which shall, collectively and separately, constitute one agreement.
Please countersign below to evidence your acknowledgment and agreement to the terms of this
Amendment.
Very truly yours, SUNTRUST BANK, as Administrative Agent, as Issuing Bank, as Swingline Lender and as a Lender |
||||
By: | /s/ J. Matthew Rowland | |||
Name: | J. Matthew Rowland | |||
Title: | Vice President | |||
REGIONS BANK, as a Lender |
||||
By: | /s/ Scott Rossman | |||
Name: | Scott Rossman | |||
Title: | Senior Vice President | |||
BRANCH BANKING & TRUST COMPANY, as a Lender |
||||
By: | /s/ Scott Rossman | |||
Name: | Scott Rossman | |||
Title: | Senior Vice President | |||
WACHOVIA BANK, NATIONAL ASSOCIATION1, as a Lender |
||||
By: | /s/ Ben Wright | |||
Name: | Ben Wright | |||
Title: | Vice President | |||
BANK OF AMERICA, N.A., as a Lender |
||||
By: | /s/ Ryan Maples | |||
Name: | Ryan Maples | |||
Title: | Vice President |
Acknowledged and agreed to as of the
date herein above written:
date herein above written:
AARONS, INC. |
||||
By: | /s/ Gilbert L. Danielson | |||
Name: | Gilbert L. Danielson | |||
Title: | Executive Vice President and Chief Financial Officer |
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